Prakash Lohia's name is synonymous with success and innovation in the manufacturing industry. Indorama Corporation is an Indonesia-based diversified petrochemical and textile company. With over 40 years of invaluable experience in the manufacturing sector, his journey from humble beginnings to becoming a billionaire businessman residing in London is a testament to his business acumen and vision.
With a clear vision to revolutionize the petrochemical and textile industry, Prakash Lohia went ahead with a relentless drive for excellence and a keen eye for emerging opportunities. Today, the company is a global powerhouse in the manufacturing sector. Under his visionary leadership, it has grown into a conglomerate and has diversified its operations, expanding its footprint across the globe.
Prakash Lohia was born in Kolkata, India, to Mohan Lal Lohia and Kanchan Devi Lohia. He has three brothers: Om, Ajey (aka Ajay Prakash), and Aloke (aka Alok or Anil Prakash), and a sister, Aruna. Although Prakash Lohia hails from India, he has spent most of his professional life in Indonesia since 1973. He moved to Indonesia with his father Mohan Lal Lohia and started Indorama Synthetics, which began manufacturing spun yarns in 1976. In the late 1980s, the company was divided between his three sons to avoid family disputes in the future. Lohia's elder brother Ajay Prakash moved to India and set up Indorama Synthetics. Lohia's younger brother Anil Prakash shifted to Thailand and set up a wool yarn manufacturing company. In 2006, Lohia acquired an integrated olefin plant in Nigeria. Today, it is the largest petrochemical company in West Africa and the second-largest olefin producer in Africa. In 1991, Indorama Synthetics started production of polyester fibres, and thereafter set up a polyester bottle-grade (PET) resins plant in 1995. Prakash Lohia garnered most of his wealth through manufacturing PET. The main holding company is called Indorama Corporation and has its headquarters in Singapore.
The key factor driving the company is Prakash Lohia's commitment to innovation and quality. He recognised early the importance of staying ahead of competition in a rapidly evolving industry. He has invested heavily in research and development. He has adopted state-of-the-art technologies to drive efficiency, productivity and sustainability, enabling the company to maintain its competitive edge. Besides, through his strategic foresight and business acumen, he comprehends the complexities of global markets. Thanks to his ability to recognise emerging trends and market shifts, and capitalise potential opportunities, he has successfully led Indorama Corporation on a growth trajectory.
Being a diversified global player, Indorama produces essential materials, such as fertilizers, polymers, fibres, yarns, and medical gloves, among numerous others. Thanks to its extensive network of manufacturing sites across the world, it delivers innovative solutions for shaping better lives. Through the pursuit of excellence and sustainability it meets customers’ evolving needs while minimizing environmental impact.
Reaffirming the conglomerate's objectives and commitments, Vice-Chairman Amit Lohia says: "At Indorama, we strive to provide the highest-quality essential materials to the customers we serve. We work to enrich and support the communities in which we operate as a responsible corporate citizen. And we treat our employees with dignity and respect, and create opportunities for their growth. Our firm and trusting partnerships with customers, with communities, and with employees are the bedrock upon which we have built our company. The nurturing of these partnerships is what allows us to fulfil our purpose: Essential Materials. Better Lives."
Affiliate Companies of Indorama:
- Indorama Synthetics Tbk, Indonesia, is one of the largest and most technologically advanced producers of textile raw materials in the country.
- Medisafe Technologies, Indonesia, is a world-class manufacturer of disposable gloves for medical, surgical, and industrial markets based on multiple polymer offerings.
- Indorama India is a leading producer of Spandex yarns in Baddi, Himachal Pradesh, under the umbrella brand of Inviya.
- Indorama India Pvt Ltd, India, at its Haldia site, produces phosphate-based fertilizers in West Bengal under the umbrella brand of Paras, which is a premier brand in eastern India. The site also owns and operates an ammonia terminal for captive and merchant sales.
- Indorama India Pvt Ltd, India, the Jagdishpur site, is engaged in manufacturing, trading, and sale of urea and other agri-inputs from its facility in Uttar Pradesh. The plant serves customers throughout northern and Eastern India under its prominent Shaktiman brand.
- YTY Industry Holdings Sdn. Bhd., Malaysia, is a leading supplier of disposable synthetic gloves, with four large-scale advanced manufacturing facilities across Malaysia and Indonesia.
- F.E. Indorama Agro LLC, Uzbekistan, is one of the largest cotton farms in the Republic of Uzbekistan.
- Indorama Kokand Textile LLC, Uzbekistan, has been one of the leading producers of compact cotton yarns since 2011.
- JSC Fergana Azot, Uzbekistan, is one of the leading producers of urea and ammonium nitrate.
- JSC Indorama Kokand Fertilizers and Chemicals, Uzbekistan, produces the highest quality of Phosphate and NPK fertilizers, serving growers in Central Asia.
- Indorama Eleme Fertilizer & Chemicals Ltd, Nigeria, is the largest producer of granular urea in Sub-Saharan Africa.
- Indorama Eleme Petrochemicals Ltd, Nigeria, is the largest producer of polyolefins in West Africa.
- OIS Indorama Port Ltd, Nigeria, owns and operates a multi-purpose terminal in Onne Port for the export of urea and import/export of various types of break-bulk and containerized cargo.
- TAK-Agro & Chemicals, Nigeria, is a leading supplier of NPK fertilizer to the Nigerian agricultural sector.
- Indorama Iplik Sanayi Ve Ticaret A.S., Turkey, has been a leading supplier of high-quality synthetic spun yarns for the Turkish textile industry since 1988.
- JSC Rustavi Azot, Georgia, is one of the largest producers of fertilizers and industrial chemical products in the Caucasus region.
- Adfert Aditivos Industria E Comerico, Brazil, is the largest manufacturer of specialty additives and crop nutrient solutions for the Brazilian fertilizer market.
- Adufértil Fertilizantes, Brazil, is one of Brazil’s leading blenders and distributors of fertilizers.
Associate companies:
- Industries Chimiques Du Sénégal, Senegal, Indorama ICS is the largest producer of phosphate fertilizer products in Sub-Saharan Africa.
- Indorama Ventures Ltd, Thailand, is one of the world's largest chemical companies producing polymers, fibres, surfactants, and intermediate chemicals.
Seema Lohia, industrialist Lakshmi Mittal's sister, Prakash Lohia's wife, hails from a Rajasthani Marwari family in Sadulpur, India. Seema has three brothers: Lakshmi Mittal, Pramod Mittal and Vinod Mittal. She moved to Indonesia with her husband and helped him to establish Indorama Synthetics, which started production of spun yarns in 1976. The Lohias have two children, Amit and Shruti. Amit studied in Wharton School of Business at the University of Pennsylvania.
Prakash Lohia's estimated net worth in 2024 is $8.1 billion. In spite of his tremendous success and stature as a billionaire businessman, he remains deeply connected to his native land. He continues to inspire the Indian diaspora through his achievements. Incidentally, he is one of the world's largest collectors of old books and lithographs.
Philanthropy
Prakash Lohia is committed to giving back to society and working for the betterment of people. Through various charitable initiatives and community development projects, he offers help to the marginalized, promote education, and support initiatives that foster social and economic development. His philanthropic efforts are part of the social responsibility of giving back to the communities that have contributed to his success.
Prakash Lohia’s story exemplifies the enormous potential of Indian entrepreneurs to make their mark on the global arena and create lasting legacies. As he continues to lead Indorama Corporation to greater heights of success, his legacy will serve as an enduring inspiration for aspiring entrepreneurs and businessmen around the globe.
(Photo: Courtesy Indorama)
Read ARTICLE: Apoorva Mehta's Tryst With Success
No comments
Post a Comment